Rents stopped rising and falls recorded in London

publication date: Jan 23, 2014
 | 
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books

Rents stopped rising and falls recorded in London



Lack of Wage Growth Holding Rents Back

 

There are a number of regular monthly rental sector reports. Some cover the UK and some cover just England and Wales. This is a summary of the report headlines and latest data together with Kate Faulkner’s commentary on the implications for landlords and tenants:-

Report Headlines:-

Belvoir Lettings - “Average rents for all offices trading over the last five years in December 2013 were £683, which is £2 less than November 2013. (Dec 13 – England, Wales & Scotland)”
Acadata/LSL - “Rent rises slow by half over course of 2013. (Dec 13 – England & Wales)”
Paragon Group - “Landlords look to the New Year with optimism. (Dec 13)”

Homelet - “Lowering London rents still 2.5 times more expensive than North East’s. (Dec 13 – England, Wales & Scotland)” 

SpareRoom - “On average, rents have remained stable across the UK since last quarter, though they’re up 4% since last year. (Dec 13 – England, Wales, Scotland & NI)” 

Kate Faulkner comments on Rental Report Headlines:

“Wow – how nice, for once we have all the rental indices pretty much agreeing with each other! The good news is, for tenants strapped for cash due to cost of living rises and little wage growth, their rents are pretty much static – even in London. This proves rents move in line with wage growth – even when demand is higher than supply.”

DOWNLOAD the full report, which includes:-

  • Report Headlines
  • Regional Rental Price Variations & Room Rents
  • Capital Growth & Yields for Landlords
  • Demand for Rented Property
  • Supply of Rented Property

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